Five Ways to Find Extra Money in Your Budget

by Miriam Caldwell | More from this Blogger

14 Oct 2006 05:55 PM

If you have sat down and planned out your budget or your debt reduction plan you may need to find more money in your budget. You have a few options: you could get a second job; you could sell some items; or you could decrease your spending. Depending on how much extra money you need, you may do just one of these or a combination of all three. Here are five ideas to help cut the amount you are spending.

1) Although gas prices are beginning to drop, cutting down on the amount of gasoline you use will help you to find extra money in your budget. You may consider carpooling to work. I did this one year, when I had a long commute. It was a great experience, because I had time to unwind before I got home, plus I enjoyed the companionship of my carpool. You may consider public transportation as another option. You should also plan your errands to coincide together, and cut down the number of times you have to run errands.

2) You can save a lot of money by cutting the amount you spend in the entertainment category. If you have children you may want to consider buying family passes to a nearby zoo or museum. This is a lot less expensive then a trip to the movies every weekend. You can also look for free activities. If you love to go to plays, concerts, and other fine arts events, you may consider going to the productions offered by your local college. The price is usually a lot less than a professional troop.

3) You may want to consider cutting back on the different services that you subscribe to. If you have cable or satellite TV you can easily cut back on the package you are getting. You can also look at the cell phone plan you are on, and possible cut back on the number of minutes you have. If you are receiving the newspaper, you may want to cut back on the number of times you receive it a week.

4) Gifts can often be expensive. You may need to cut back on the amount you spend on each person. Often people appreciate thoughtful gifts as much or more than extravagant ones. You can plan ahead and make gifts or look for specific items when they are on sale.

5) One of the most flexible categories in your budget is the food category. You can usually trim up to a hundred dollars off a month, and still eat well. You should cut down on the number of times you eat out. You may want to stop eating out at fine dining establishments, and switch to casual dining for the time being.

You can find more tips on saving money on the frugal living and deal blogs.

Learn more about Miriam Caldwell

Miriam is a SAHM mom of three children. She has a daughter who is seven, and two sons, four and two. She loves being a parent and spending time with her children.

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QueenAngie Central Illinois, USA (60111) 14 Oct 2006 08:41 PM

Great tips! Also under #5, use coupons for groceries and match them to sales. Every penny saved helps.

Miriam Caldwell (8030) 16 Oct 2006 11:33 AM

That is a great way to save money. I did that and got a pound of meat free this week. It is a great feeling!